18th Sep 2007 07:01
Tullow Oil PLC18 September 2007 News release Kudu-8 appraisal well update 18 September 2007 - Tullow Oil plc (Tullow) announces that the Kudu-8 appraisalwell has been drilled to a total depth of 4,355m and, following the results oflogging operations, will not now be flow tested. The well was designed to testthe potential for additional reserves within the Greater Kudu field area,thereby broadening the range of development and commercialisation opportunitiesavailable. The well encountered the targeted gas bearing reservoir sands at 4,299m,consistent with the results from the nearby Kudu-5 well drilled in 1998. Thesesands were thicker and of a better quality than those in Kudu-5; however, thereservoir permeability was lower at this location. The results of the loggingprogramme showed that any production from this well would not exceed the19mmscfd rate recorded at Kudu-5. The joint venture has therefore decided not toflow test the well, which has now been plugged and abandoned. The Pride SouthSeas rig contract will now be terminated following this well and the resultsfully integrated into Tullow's geological model for the area in advance of anydecisions on further drilling. Commenting today, Aidan Heavey, Chief Executive of Tullow said: "The result of the Kudu-8 well is a disappointment for Tullow. Despiteencountering improved reservoir development, it has not proved possible todemonstrate commercial flow rates at this location and significant technical andgeological work will now be undertaken to determine the best future programmefor the area. Tullow does not expect this result to impact on the progress ofthe Kudu gas-to-power project and remains committed to the joint venture andwill continue the process of developing this important Namibian naturalresource." For further information contact: Tullow Oil plc Citigate Dewe Rogerson Murray Consultants(+44 20 8996 1000) (+44 20 7638 9571) (+353 1 498 0300)Aidan Heavey Martin Jackson Joe MurrayTom Hickey Kate DelahuntyChris Perry Notes to Editors Tullow is a leading independent oil & gas, exploration and production group,quoted on the London and Irish Stock Exchanges (symbol: TLW) and is aconstituent of the FTSE 250 Index. The Group has interests in over 120exploration and production licences across 23 countries and focuses on four coreareas: Europe, Africa, South Asia and South America. Tullow's European interests are primarily focused on gas in the UK SouthernNorth Sea where it has significant interests in the Caister-Murdoch System andthe Thames-Hewett areas and operates over 70% of its production. In Africa, Tullow has exploration and production in Gabon, Cote d'Ivoire, Congo(Brazzaville), Mauritania and Equatorial Guinea and a gas field development inNamibia. Tullow also has exploration programmes in Mauritania, Senegal,Cameroon, Uganda, Congo (DRC), Tanzania, Madagascar, Angola and Ghana. In South Asia, Tullow has exploration and production in Pakistan and Bangladeshand high impact exploration activities in India. In South America Tullow has high impact exploration interests in Trinidad andTobago, French Guiana, Suriname and the Falkland Islands. For further information please refer to our website at www.tullowoil.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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